There are hopes that the situation facing the fluorspar mine in St. Lawrence is a temporary one.
That’s according to Grand Bank MHA Paul Pike who confirmed that Canada Fluorspar, which owns and operates the mine, has filed for interim receivership.
The facility reopened to much fanfare back in 2017, and the first shipment of the mineral—which is commonly used in the manufacture of products like aluminum, refrigerants and insulating foam—went out in July.
The provincial government supplied the company with a $17 million dollar repayable loan to help get the mine reopened after sitting idle for decades.
Pike says it was generally understood, with rising market prices and the size of the deposit at St. Lawrence, that the mine—which employs over 250 people on the Burin Peninsula—had some longevity.
The Department of Natural Resources says officials are in contact with all relevant parties, including the company and receiver, on the status of the mine to help determine the next steps.
(Image via Canada Fluorspar.)
The mine in St. Lawrence was Canada Fluorspar’s only mining operation in North America.
Grand Bank MHA Paul Pike says the company was moving toward financial sustainability, and while it was working on improved infrastructure in the area, they had run into some trouble with the loading dock.
Even though the road to the loading truck had been completed, the company was still shipping product out via Marystown at greater cost.
